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<br /> , x,.�«.�w,�, payments,whlch uro referred to in Paragmph 2.or chenge the amount of such puymenta. My excess prace �over an ��=��������_--
<br /> �� �' ' amounttequired ta pay all outstanding indebtednesa under the Note and this Securlty Insuvment sh�ll be pntd to the enttty -
<br /> - IogaUy enUtled thereto.
<br /> ¢�s F S. Feea. L,ender may collect feea end charges authori z e d by t he Secretury. -
<br /> `''�r �9. tirounda tor AccelereUon of I)eb� -"'
<br /> .�n;�t^.x,ry tA)DefAU{� l.ender may.except as limited by re�ulat�ona lesued by the Secretery i�the cnFe af payment defaults, ,T_,._ ____ ,_ _� -__.
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<br /> � � �� � ' �• require immediate paynient in full of ull suma secured by this 5eaudty Instrument if:
<br /> . ... ... ,. ._ --
<br /> , ' (j)Barrower defaults by failing to pa in full any monthly payment reyuired by thls Secur�ty Inauumcnt pr�or �- �� ---
<br /> �a�. 9` �,
<br /> t :�����a� to or an the due date oF the next mon ly payment.or
<br />- .�r=�'��,'''' '"'`" (ii)Borrower defaulta by failing,for a period of thlrty duys,to perform uny other obligadons contained in thjs —
<br /> � ., Securlty Inatrumen� -= -
<br /> ��� ��. •� � (b)Sale Without Credit Approval. Lender shall.if penniacd by applicuble law end wlth the pdor apprnval of the ---�
<br /> �' • Secretsry. uire tmmediate a ment in fuU of ait the sums secured b this Secur�t Insuument if: '°"
<br /> • *e4 P Y Y Y :.:�Sy�_:-
<br /> '• � (i)All or part of the Property.or a beneficial interest in a trust owning ail or part of the Propeny,is sold or ,,..x�-�---
<br /> ' x '. • .. - otherwlse uansfemed(other th�n by devlse ar descent)by the Borrower,und " -'�" -
<br /> r ' "' (ii)The Property is nat occupted by the purchaser or grantee as his or her pdnclpal residence,or the pw+chaser rY'��� - —._
<br /> 'f" ,,.. " or grantee dces so occupy the Property but hIs ar her credit has not been approved in accordence �`='q�!��'°
<br /> 1/ ^ with the requirements of the Secretary. ��u%�.=�n__�
<br /> ,. � (c)No Waiver. If circumstances occur that would permit Lender to require immediate payment in full,but Lender .� ��2.�it�==_-
<br /> �' dces not r�equire such pa� yments,I.ender does not waive its rights with respect to subsequent events. ' '' ° =_— �-
<br /> ° � (d)Regulationa of HUD Seeretary. In many cincumstances reguladons issued by the Secretary will limit Lender�s � ' ' ���--
<br /> ; • .• ::c,;;�; ----
<br /> • • �° �••- r[�hts. in the case of payment defaults, torequin irnmediste payment In full and foreclosc if not paid. Thls ' ��''.�-
<br /> � � Security Instrument dces not author�ze acceleratbn or forectosure if aot pennitted by regulutions of the Secretary. .. • -- - --
<br /> � � -' (e)Mortgage Not Insured. Bonower agrces that should this Security instrumenc and ihe no►c sewrcJ ihc�cLy uoi =-----;��a;�. . -
<br /> ' � " , ' be eligible for insurnnce under the Nattonnl Housing Act within 8 mont�s from the , ' ,�-�2=r,.r�.�
<br /> "„ date hereof.Lender may,at its option and notwiths�anding anything in Puragraph 9.require immediate paymant!n • `; �-�°
<br /> .�__�..--
<br /> �. ' full uf all sums secured by this Securiry[nstrument, A written stutement of uny authorized agent of the Secretary ° ,, ,.• '�:
<br /> dated subsequent to 8 91oAt hs from the date hereof,declining to insur�this Security .�:�:
<br /> � Insnvment and the note secured thereby,tihall be deemed conclusive proof of such ineli�ibllity. Notwithstanding „
<br /> . ° the foregoing,this option may not be exercised by Lender when thc unavatlability of insurnncc is solely duc to _' __-- _
<br /> � Lender'.s failure to remit a mort�age insurnnce prcrnium to the Secretary.
<br /> � 10. Rei�statement. Borrower has a right to be reinstaced if Lender has reyuired immediute puyment in full beceuse :��;
<br /> of Borrower� failure to pay an amount due under thc•Nae or thts Security Instrument, This right applies even after
<br /> foreclosure proceedfngs are instituted. To reinstate the Sccurity Instrument, Borrawer shall tender in a lump sum �11 °'•
<br /> - -- amounts requlred to tinng bonower's account curnnt inc iuding,co the cxtent ihcy arc ublibuiiuu�uf Sw,vwe��uuJer this -- -
<br /> • Security Instrument,foreclosure costs and reasonable and customury attomeys'fee+nnd expenses properly a5socinted with ��� �� .
<br /> �.-
<br /> the foreclosure proceedtng. Upon reinstatement by Barower.this Security Instrument und the obligations that it secures „
<br /> shall remain in effect as if Lendcr had not rec�uimd immediete payment in full. However,Lcnder is not required to permit ���°
<br /> reinstatement if: (i) Lender has accepted remstateinent Af�er the commencement of foreclotiure proceedings withm two ��'". •
<br /> ' years immediatety precedin� the commenrement of o current foreclosurc proceeding, (il) reinstatement wtll preclude � „. .• �.,
<br /> - - - � - far�::.toaure an diffcrcnt graunds in the futum,or(iii� reiaststement++�i!!udversely nffect the pri�rity nf the lien crented by
<br /> this Security Instrument. ���
<br /> 11. Borrower Not Released; Forbearancc b�Lender Not � Waiver. Extension of the time of payment or �.� �.
<br /> modification of umortization of the sums secured by this Secueity Instrument grunted by Lender to any succe�sor in interest �s••• �
<br /> . ' of Borrower shall not operate to releuse the liubility o(the originul Borrower or Borrower's successa m interest. Len der `,
<br /> shall not be required to commence proccedings uguinsi unX�uccetitiar in interest or refuse ta extend time for payment or r� '
<br /> ' othetwise modify umortizution of the xums secumd by thiti Security In+trument by rcason of any demand mude by the • z' D�-���
<br /> � ori inal Borrower or Bonower s successon in intercsc. A n forbcurunce b I.cndcr in cxerci�in un ri ht or rcmed tihall ,� 'y°
<br /> g Y Y s Y � Y• �:.j%�'��
<br /> ° not be a waiver of or preclude the exerci�e of any right or mmedy. ',:��' .• ,:.�
<br /> 12. Successors and As,9lgns Bound;Joint and Sc veral Linbility:Cn•:'l�ners. The covenuntc und ngreements of •
<br /> thts Securiry Instrument xhull bind and bene�t the succc�xors und usxigm of Lender and Borrower.subject ro the provisions
<br /> of Pura�ruph 9.b. Borrowcrti covcnsnts und ugrecrncnt s+hull tx:joint und .cvcral. Any Barrawcr who co-signs this l . ��
<br /> Securiry Instrument but does not execute the Note: (u1 i�co-signmg thi.Securi�y inxtrunxnc uniy w mun�uge,grunt und � , - �� �
<br /> convey that Bornower's intere.r•t in the Propeny under the term,�of thi.Security Inrtrument:lb)is not penonally obli�ated to � �
<br /> pay thc sum+secured by this Secunry In.;rument; •rnd Ic> a�rec.that Lcnder und uny uther Burwwe�may ugree to extend, r . , �'.:'t� .
<br /> , modify,forbcar or mukc uny uccommcxiation+wich reg•rrci ia thr temi.of this Scruriry Insirument<�r ihc Notc without that �''��
<br /> Borrowcr'sconxent. I • �'
<br /> !3. Notices. Any noticc to Borro«•cr providcd for in thi+Scrurity In.trument,hull tx tiivrn by delivering it nr by � �'"
<br /> mailing it by first clax+ muil unless applicablr luw nyuim. uyc uf unother mrthoci. The notice tihall lx dinected to the
<br /> Property Addmsx or any othcr addresti Bormwcr dc+ignxte+hy notirr tu Lcndre Any nuiicr to Lrndcr.hull be given by ` �
<br /> � fint cluss muil w Lender's addrcsx stuted herrin or any �nldmti+ l.endrr de�ignatc� by mnicr to Borrc�wer. Any natice j
<br /> Provided for in this Sccurity Intitrument�hull bc decmed to have becn given tc�Borrowrr or I.rndrr when�!iven us providcd � +'
<br /> tn thix paru�ruph. � ;
<br /> 14. Covernin�Lstw; Se�'erability. This Securiry Instrument ,halt lx guvcrnrd hy Fe�i�rul !aw und thc law of the I
<br /> , ' jurisdiction in whirh thr Propeny i.lcxated. In tlk e�•eni IhiU:tny pre>vi.iun or rl:�uxc uf thi,Security Instrumem or the 4
<br /> Note conflicts with ap�licuble luw,such rcmflict .hull ncn aftcct othrr pruvisi�ms of this Serurity Instrument or the Note
<br /> _ which cun be given effect without thr cuntiicting prc�vi+i�m. Tii thi.end thc pruvi+iunti of this Security In,trument unJ thc
<br /> . Notc ure declarcd to ix severable.
<br /> • 15. Borrower's Copy. Borcowcr�hull Ix�given one cont'om�cd copy ut�thi�Security In.trument.
<br />' 16. Assignment of Rents. Borrower unronditio�il ly atitiign�und trxmterr tu i.endcr all thr nnk und revenues of thc
<br /> Propeny. Borrower authorires Lender or Lendrr�a�emx tn rollect thr rentti i�nJ revrnuc�und tkttrby directs ench ten:�nt af ,
<br /> the Property to pay thc rents to Lendcr or Lendcr�a�pcnt.. Hciwrvcr,priur t�i Lcndrr� notire to 8cxrc�wcr of Borrc�wcr+ ,
<br /> breach of any covenunt or agreement in the Security 1 mir►�men�.Hurruwrr.hull rull�rt and rer�iv�all rents und rcvcnueti c�f .
<br /> ; 3' the Property as tru�tee for the hcnefit of Lendcr and E3ortc��cer. 1'hi.u..ignmcnt uF rent�con.titut�x an ubsolutc u,.iFnment '
<br /> � , _ and not s►n ussignment for additionul�ecurity�mly.
<br /> "� � � 11 LCO�C��'IVCti IlOt1CC OI OTCi1Cf1[O DOI7l)wCC (itl:lt t fCtti+tYCClvru t»• nut tuwrt an:fn iK i�ciu i�Y nv�iarwci u�iiuiicc �
<br /> for benefit of Lcndcr only,to he upplicd to the �um.�c�urcd by thc Srrurity In,trumcnt: (b)LenJcr zhall he rntideJ tc�
<br /> � collect and receive ull of the rent.of the Pmpeny;anJ 1r)cach tcnam ut'thr 1'ruExn}•tihall pay all nnt.duc und unpaid tn
<br /> Lender or Lender's ugent on Lcndcr+written demund to thc trnant. �
<br /> � Borrowcr har not cxc�utcd uny prior ussi nmeni nt'ihc mntti:md ha. nat und will nat perf'i�rni uny uct that wi�uld .
<br /> ; ��F prevent Lendcr from cxcrcisin�itx rights under t�is Pnr�graph 16. ,
<br /> Lender shall not bc requimd to emer upon, takc rontrul uf ar muintuin the F'r��Exrty txlim���r uftcr giving notirc uf
<br /> breuch ta Borrower. However,Lendcr or u judicinUy appuinred receiver muy do w ut any timc tlxrc i.a brcuch. Any
<br /> . '� application of rents xhull not cure or waivc uny dcfault ur mvafidatr any uther right or rcnkdy of LcMirr. Thi+uxxignmcnt ,
<br /> . of rents of the Property�hall terminate when thr deht �aund hy thr Security In.trumrnt i,paid in full.
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